Ngam Advisors L.P. cut its position in shares of Live Nation Entertainment Inc. (NYSE:LYV) by 6.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 278,995 shares of the company’s stock after selling 19,999 shares during the period. Ngam Advisors L.P. owned 0.14% of Live Nation Entertainment worth $7,667,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Sentry Investments Corp. raised its position in Live Nation Entertainment by 299.7% in the second quarter. Sentry Investments Corp. now owns 4,444,900 shares of the company’s stock worth $104,455,000 after buying an additional 3,332,900 shares during the period. Lord Abbett & CO. LLC acquired a new position in Live Nation Entertainment during the second quarter worth $22,202,000. Victory Capital Management Inc. raised its position in Live Nation Entertainment by 337.4% in the second quarter. Victory Capital Management Inc. now owns 782,566 shares of the company’s stock worth $18,389,000 after buying an additional 603,664 shares during the period. Boston Partners raised its position in Live Nation Entertainment by 66.7% in the second quarter. Boston Partners now owns 1,475,100 shares of the company’s stock worth $34,664,000 after buying an additional 590,099 shares during the period. Finally, Artisan Partners Limited Partnership raised its position in Live Nation Entertainment by 274.9% in the second quarter. Artisan Partners Limited Partnership now owns 727,430 shares of the company’s stock worth $17,095,000 after buying an additional 533,373 shares during the period. 63.25% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Live Nation Entertainment (NYSE:LYV)

Live Nation Entertainment Inc. (NYSE:LYV) traded down 1.28% during mid-day trading on Wednesday, reaching $27.76. 269,640 shares of the company were exchanged. The stock has a 50-day moving average price of $27.63 and a 200 day moving average price of $25.91. The company’s market capitalization is $5.62 billion. Live Nation Entertainment Inc. has a one year low of $18.77 and a one year high of $29.04.

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LYV has been the topic of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Live Nation Entertainment in a research note on Thursday, August 18th. They issued an “overweight” rating and a $34.00 price objective on the stock. Stephens initiated coverage on shares of Live Nation Entertainment in a report on Thursday, October 6th. They issued an “equal weight” rating and a $30.00 target price for the company. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Live Nation Entertainment from a “hold” rating to a “strong-buy” rating and set a $32.00 target price for the company in a report on Wednesday, October 12th. Jefferies Group reiterated a “buy” rating and issued a $32.00 target price (up previously from $31.00) on shares of Live Nation Entertainment in a report on Tuesday, November 8th. Finally, Citigroup Inc. increased their target price on shares of Live Nation Entertainment from $29.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, October 12th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $31.88.

In other Live Nation Entertainment news, Director Mark S. Shapiro sold 22,642 shares of the business’s stock in a transaction on Monday, November 21st. The shares were sold at an average price of $28.08, for a total transaction of $635,787.36. Following the transaction, the director now owns 36,929 shares in the company, valued at $1,036,966.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Ted Enloe III sold 10,000 shares of the business’s stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $27.78, for a total transaction of $277,800.00. Following the transaction, the director now owns 35,398 shares in the company, valued at approximately $983,356.44. The disclosure for this sale can be found here. Company insiders own 4.16% of the company’s stock.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc is a live entertainment company. The Company’s businesses consist of the promotion of live events, including ticketing, sponsorship and advertising, and artist management. Its segments include Concerts, Ticketing, Artist Nation, Sponsorship & Advertising, Other and Corporate.

5 Day Chart for NYSE:LYV

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